AUDJPY: 2 month range calls for a rebound

AUDJPY is neutral on its 1D technical outlook (RSI = 45.920, MACD = -0.220, ADX = 20.692) as it is trading inside a Rectangle pattern. The price hit the pattern's bottom yesterday and today is rebounding towards the 4H MA50, already hitting the 0.382 Fibonacci retracement level. Such rebounds have always reached the 0.786 Fib at least, so with the 4H RSI also rebounding perfectly from the oversold area, we expect to test the 0.786 Fib again (TP = 98.385).


## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##